Biopartnering Seminar - What is the Best Value Proposition for Wearable Technology for Active Seniors? (Telus Health)

Aftermath Associates Team Photo
Tuesday, December 8, 2015 - 6:30pm

What is the Best Value Proposition for Wearable Technology for Active Seniors? (Telus Health), Aftermath Associates  - MBiotech Student Team

Tuesday, December 8, 2015, 6:30pm.
Room L1220, Innovation Complex.

By 2031, 20% of Canada’s population is expected to be over the age of 65. Among health issues in seniors, falls are the leading cause of injury-related hospitalization. Use of personal emergency response devices could reduce the time it takes for help to arrive for the seniors. However, most devices currently available provide safety only inside the home. Numera Libris, marketed by Telus Health, is a mobile fall detection device for seniors that detects a fall and contacts a monitoring centre for help, who can send a paramedic or a family member.

Our project explored the price that people were willing to pay, as well as additional features for future devices. Through surveys, focus groups and speaking to assisted living facilities, we examined customers’ preferred features in such a device, as well as willingness to pay. We found that seniors were interested in a more advanced device, which included additional features such as monitoring physiological parameters, medication reminders and motion detection. We also found that customers were willing to pay an additional monthly fee for these extra features. Through the focus groups, potential customers gave advice on reforms to the device such as volume control and improving the aesthetics. In addition, we found a high risk of falling associated with stroke patients, which could open up a new market for Telus Health and their fall detection device. Potential solutions for driving revenue growth include targeting the family members and caregivers of seniors and stroke patients to purchase the device for their loved ones.

This seminar will be open to the public.

This seminar is part of the Biopartnering Seminar Series, offered by the Master of Biotechnology Program.